Personal Insurance

• What is the minimum required auto insurance coverage I need to purchase?

The state of Florida requires all personal licensed vehicles that operate on its' roadways to carry at least $10,000 per accident for property damage liability and Personal Injury Protection, otherwise referred to as PIP.  With rising costs of vehicles and medical costs and the increased number of mult-car accidents, you should consider much higher limits and additional coverage like $100,000/$300,00 for liability bodily injury and $50,000 for property damage liability.

• How do I know how much coverage to purchase for my home?

This depends on how your property policy is being written - on an age depreciation calculation or a replacement cost calculation.  It is very important that this number be fairly accurate so you are not penalized by your insurance company on a claim for underinsuring your home.  This is definately a topic you should be open to discussing at length with your professional insurance sales agent.

• People say my homeowner insurance covers my 4-wheeler.  Is that true?

Your homeowner insurance policy will only cover the liability arising out of the operation of your 4-wheeler if it is used solely to service your primary residence.  Purchasing a 4-wheeler insurance policy is the best way to protect yourself and your 4-wheeler.

Business Insurance

• Do I really need a commercial insurance policy for a small in-home business?

Most homeowner insurance policies either exclude business use or extremely restrict the coverage provided for the in-home business.  A commercial insurance policy is the best way to protect yourself.

• What is a commercial umbrella policy for?

It provides liability coverage above the limits of your other commercial policies for typically a lower premium than just increasing the coverage on all the other policies.  You should consider how high your risk of being sued is and discuss this with your insurance agent.

• Why do I need a commercial auto policy when I have a personal auto policy?

Personal auto policies exclude most all business type uses.  If you are involved in an accident, you may find yourself uninsured and then cancelled by the personal auto carrier.

• Why doesn't my market, loan, and insurance values match on my commercial building?

Market value is how much someone is willing to spend for your property, loan value is the balance of your loan, and insurance value is how much it will cost to rebuild your building.  To say you just want to cover the loan balance is like saying you just want to cover the bumper on your car.